About Transferring Stock Items that Use FIFO or LIFO Costing
Transferring Goods between Two Inventory Locations
Enter any additional cost associated with the transfer, such as the cost of shipping. You can then prorate this amount over the items in the shipment by selecting a proration method from the Proration Method list.
Use this field to enter a date for the transfer document. The session date is displayed by default, but can be changed.
Click the Create New button to start a new transfer with a program-assigned document number.
The program automatically assigns the document number if you leave "*** NEW ***" in the Document Number field. The program-generated document number is determined by settings on the I/C Options screen.
You can also enter a document or transfer number—for example, you might base this number on the date and waybill number. In any case, the transfer number must be unique, and up to 22 characters long to distinguish the new transfer from other, existing transfers.
Document or Transfer numbers can contain letters, numbers, and special characters (for instance, *, & #). Letters automatically appear in uppercase when you type them.
Specify whether the document is a transfer, transit transfer, or transit receipt.
This field displays the name of the person who entered the transaction.
Enter the date for the transfer.
The session date is displayed by default, but you can change it.
You can also enter a separate posting date, which determines the fiscal year and period to which a transaction is posted in the general ledger.
You can change the document date and the posting date, but you cannot directly change the fiscal period.
If optional fields are set up for use in this type of transaction (applying to the entry as a whole), you can enter information in the optional fields by clicking the menu button next to the Optional Fields option and selecting Add/Edit to open the I/C Detail Optional Fields screen.
Note: Optional field information can pass to the General Ledger only if the optional fields are also assigned to the general ledger accounts.
Specify the date to which to post the transaction to the general ledger. (Depending on the Default Posting Date setting on the I/C Options screen, either the session date or the document date appears by default.)
The posting date determines the fiscal year and period, which you cannot change directly.
In a multicurrency system, currency revaluation also uses posting dates to select open documents for revaluation purposes and, thus, revaluation adjustments are posted to the general ledger in the correct fiscal year and period.
Note: If you consolidate G/L transactions, the posting date for consolidated entries is the last date of the fiscal period.
You can prorate the additional cost for the transfer (if you entered one in the Additional Cost field) over the items in the transfer using one of the following methods: by quantity, by weight, by cost, equally, or manually.
Selecting Manually allows you to enter each item’s share of the additional cost in the Manual Proration field. All other options cause the program to automatically calculate amounts, and the Manual Proration field cannot be used.
This field lists the quantity available by location (from, to, and GIT location).
This field lists the quantity on hand by location (from, to, and GIT location).
This field lists the quantity on purchase order by location (from, to, and GIT location).
This field lists the quantity on sales order by location (from, to, and GIT location).
Inventory Control automatically displays the stocking unit for the items being transferred.
You can post receipts in any unit of measure defined for the item, unless the item units have serial numbers, in which case you must select the item’s stocking unit.
Enter reference information for the transfer, using up to 60 characters.
This reference appears with the transaction on the Transfers Posting Journal.
It can also appear on the G/L Transactions report and in the general ledger batch, if the G/L Reference field or the G/L Description field uses Reference in one of its segments, and you do not consolidate general ledger transactions.
If you are receiving goods at a destination location or if you are adding to the goods being moved into transit, enter the transfer number from the previously entered transit transfer.
Select this option to mark the transfer slip as printed.
Displays the year and period, which is determined by the posting date. You cannot change the year/period except by changing the posting date.
Enter comments you want to appear on the Transfers Posting Journal for the detail line. Use up to 250 characters.
Enter a description for the transfer, using up to 60 characters.
This description appears with the transaction on the Transfers Posting Journal.
It can also appear on the G/L Transactions report and in the general ledger batch (if Inventory Control uses Description for the G/L Entry Description field or the G/L Detail Reference field and you do not consolidate general ledger transactions).
When transferring items that use the user-specified costing method, enter the unit cost or the extended cost. You cannot enter costs when transferring items that do not use user-specified costing.
If you enter the extended cost or change it, the program calculates the unit cost. The program recalculates the extended cost if you enter or change the unit cost.
If you use multicurrency accounting, enter costs in your functional (home) currency.
This field displays the weight from the item record. However, you can modify this information if necessary.
If you enter a unit weight, the program calculates the extended weight; if you enter an extended weight, it calculates the unit weight.
Make sure that this information is correct when transferring items that use cost proration by weight.
Enter the code of the inventory location from which you are transferring stock, or select the code from the Finder.
If you are entering a transit transfer, enter the code for the goods-in-transit inventory location.
If you are entering a transit receipt (receiving goods from a goods-in-transit location), you cannot change this field.
This field displays the description entered for the item on the I/C Items screen.
Enter the item number of the item being transferred, or select the number from the Finder.
You can enter a manufacturer's item number that was associated with an item (using the I/C Manufacturers' Items screen). The program substitutes the inventory item number, and places the manufacturer's item number that you entered in the Manufacturer's Item Number column in the table.
Line numbers show the order in which each detail line is added to a transaction. They are assigned in sequence by Inventory Control and you cannot change them.
To insert a detail line ahead of an existing line (except for line 1), select the previous line and click Add Line. You cannot insert lines before line number 1.
To delete a line, select the check box at the beginning of the line and click Delete Line.
Enter an amount for the item’s portion of the additional cost as entered in the Additional Cost field. You can do this only if you selected "manually" as the proration method.
If you entered a manufacturer's item number in the Item Number field, the program replaces it with the inventory item number, and the manufacturer's item number that you used appears in the Manuf. Item No. field (by default the last column in the table).
You must have already added the manufacturer's item number using the I/C Manufacturers' Items screen in Items and Price Lists.
This column displays:
- No when this transaction detail does not include optional field information.
- Yes when there is optional field information for a transaction detail
If optional fields are set up for transaction details, you can add or change optional fields by clicking in this column and then clicking the Finder button to open the Optional Fields screen. An optional field can be set up to automatically contain information; if that optional field is associated with transaction details, this column automatically displays Yes.
Note: Optional field information can pass to the General Ledger only if the optional fields are also assigned to the general ledger accounts.
This is the amount still required to meet the requested quantity.
This is the number of units received from the GIT location for this transfer.
This field appears only if you are using a goods-in-transit location, and is useful when you are adding to a transfer over some period of time (for example, loading several trucks over a period of days).
The transfer quantity cannot exceed the amount requested.
When you enter an amount in this field, the same amount appears by default in the Transfer Quantity field.
Enter the code of the inventory location to which you are transferring stock, or select the code from the Finder.
If you did not select the Allow Items At All Locations option on the I/C Options screen, you must have specified that the item is allowed at the inventory location to which you are transferring stock.
Enter the number of units to transfer between locations.
You can transfer more units than are in stock if you selected the Allow Negative Inventory Levels option on the I/C Options screen.
If you had entered an amount in the Requested Quantity field, that amount appears by default in the Transfer Quantity field. This amount can be changed.
To assign a lot tracking number or a serialized inventory number to the transfer, click the Zoom button at the top of the Transfer Quantity field. This opens a Lot Tracking or Serialized Inventory Allocation screen where you assign the tracking number.
If you want to change the unit of measure, type over it or select one from the Finder. Inventory Control automatically displays the stocking unit for the items being transferred.
Note: You
can post transfers in any unit of measure defined for the item
This is the number of units previously entered for this transfer to the GIT location.
When transferring items that use the user-specified costing method, enter the unit cost or the extended cost. You cannot enter costs when transferring items that do not use user-specified costing.
If you enter the unit cost or change it, the program calculates the extended cost. If you enter the extended cost or change it, the program calculates the unit cost.
If you use multicurrency accounting, enter costs in your functional (home) currency.
Enter the unit of measure for the quantity being transferred. You can post transfers in any unit of measure defined for the item.
This field displays the weight from the item record. However, you can modify this information if necessary.
If you enter a unit weight, the program calculates the extended weight; if you enter an extended weight, it calculates the unit weight.
Make sure that this information is correct when transferring items that use cost proration by weight.
This field displays the factor for converting this weight unit to the default weight unit of measure.
For example, if "pound" is the default weight unit of measure (with a conversion factor of 1), the conversion factor for “ton” would be 2,000. Similarly, the factor to convert kilograms to pounds would be 2.2.
This field displays the default weight unit of measure from the item record. You cannot change it.
Overview
Use the I/C Transfers screen to:
- Enter and post stock transfers between physical inventory locations if you store items at more than one location.
- Import transfer transactions from other Sage 300 companies or from non-Sage 300 programs.
- Export transfer transactions.
Note: If you have a multicurrency system, you enter costs in functional currency.